Clearline Capital LP Lowers Position in Talkspace, Inc. (NASDAQ:TALK)

Clearline Capital LP lowered its stake in Talkspace, Inc. (NASDAQ:TALK - Free Report) by 73.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 325,720 shares of the company's stock after selling 923,036 shares during the quarter. Clearline Capital LP owned 0.19% of Talkspace worth $1,006,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TALK. Cibc World Markets Corp bought a new stake in Talkspace in the 4th quarter valued at about $36,000. Belvedere Trading LLC bought a new stake in Talkspace during the 4th quarter valued at $37,000. Ameriprise Financial Inc. bought a new stake in shares of Talkspace during the fourth quarter worth about $53,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in Talkspace during the 4th quarter worth approximately $69,000. Finally, Oxford Asset Management LLP bought a new position in shares of Talkspace in the fourth quarter valued at approximately $71,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TALK shares. Canaccord Genuity Group assumed coverage on Talkspace in a research note on Thursday, April 3rd. They issued a "buy" rating and a $5.00 target price on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Talkspace in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Talkspace presently has an average rating of "Buy" and a consensus price target of $4.50.

Talkspace Stock Performance

TALK traded down $0.01 on Tuesday, reaching $3.07. The company had a trading volume of 956,930 shares, compared to its average volume of 1,845,944. Talkspace, Inc. has a 52-week low of $1.60 and a 52-week high of $4.36. The company has a market cap of $517.10 million, a price-to-earnings ratio of 307.31 and a beta of 1.13. The business has a 50 day simple moving average of $2.85 and a 200 day simple moving average of $3.11.

Talkspace (NASDAQ:TALK - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting analysts' consensus estimates of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The business had revenue of $48.72 million for the quarter, compared to analysts' expectations of $49.94 million. As a group, equities research analysts predict that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at Talkspace

In related news, CEO Jon R. Cohen purchased 75,000 shares of the firm's stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $2.86 per share, with a total value of $214,500.00. Following the purchase, the chief executive officer now directly owns 2,267,980 shares of the company's stock, valued at approximately $6,486,422.80. This trade represents a 3.42% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired 82,270 shares of company stock worth $235,312 over the last ninety days. Insiders own 21.70% of the company's stock.

Talkspace Profile

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.